103 N Green St · Fountain City, IN 47341

$64,900

3 bd · 1.0 ba · 2,256 sqft · SingleFamily public records · 4 Days on market

Built 1900 6,098 sqft lot

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Take a look at this large home in a prime Fountain City location with plenty of space and potential. The property is in need of repairs and is being sold as is with inspections welcome. This is an excellent opportunity for investors or buyers seeking a project in a desirable area. Convenient location with strong upside potential.

Key facts

• 6,098 sq ft lot
• Built 1900
• Listed 4 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residential site-built home; 2 stories
• Construction: Wood siding; Asphalt shingle roof; Partial unfinished crawl space basement
• Exterior features: Deck; Covered porch; Porch

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Gas range
• Bedrooms: Master downstairs
• Flooring: Hardwood; Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Master suite on the main level; One fireplace
• Laundry & utility: Washer and dryer included; Laundry on the main level; Water softener (owned); Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).

Location & tenants

• Location reads 65/100 on livability (#344 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, employment D+.
• Northeastern Wayne Schools (rural): math 35% / reading 46% proficiency, ranked #132 of 301 in IN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northeastern Elementary School (math 48% / reading 38%, grade F, #417 of 994 statewide, top 43%, 590 students, 55% FRL); Northeastern Middle School (math 28% / reading 50%, grade F, #128 of 330 statewide, top 40%, 324 students, 48% FRL); Northeastern High School (math 17% / reading 57%, grade F, #247 of 369 statewide, top 70%, 443 students, 45% FRL) — zoned schools average 49% FRL vs 30% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 13 active listings in the ZIP; 38 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $1k appreciation (1.8% local appreciation)).
• Wayne County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.81% ✓
• Cap rate: 15.74%
• Cash-on-cash: 33.74%
• DSCR: 2.50
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $169,200
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 Hartley Ave	0.25mi	3/1.0	2,415 (+7%)	13mo	$180,000	$75	66
306 Ross St	0.19mi	3/1.0	1,956 (-13%)	20mo	$165,000	$84	52
318 US 27	0.24mi	4/3.0 (+1)	2,562 (+14%)	12mo	$109,900	$43	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.5%
• Equity multiple: 3.01×
• Total profit: $36,440
• Equity at exit: $25,011

10-year hold

• IRR: 38.8%
• Equity multiple: 5.91×
• Total profit: $89,238
• Equity at exit: $35,571

Cash invested: $18,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 47341

• Home prices YoY: 0.9%
• Active inventory: 13
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,173 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$48 /mo · $579/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $511

Break-even live

Break-even rent $526

Max offer price $64,900

Occupancy floor 51%

Sensitivity live

Price	-10% $548	-5% $529	+0% $511	+5% $493	+10% $474
Rent	-10% $418	-5% $465	+0% $511	+5% $557	+10% $604
Rate	-1.0pp $544	-0.5pp $527	base $511	+0.5pp $494	+1.0pp $477

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-13
   status $64,900 Pending 4 DOM
2. 2026-06-12
   days on market $64,900 Active 4 DOM
3. 2026-06-09
   remarks 331-char remark
4. 2026-06-09
   listed $64,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $579 · $48/mo
• Projected year-2 tax: $579 · $48/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,075
• − Mortgage interest: −$3,635
• − Property taxes: −$579
• − Insurance: −$324
• − Repairs & maintenance: −$1,126
• − Management: −$1,126
• − Depreciation: −$1,888
• Taxable income: $5,396
• Est. tax owed @ 24.0%: −$1,295
• After-tax cash flow: $4,837/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Northeastern Wayne Schools
• NCES district ID: 1808190
• Math proficiency: 35% ▼ -3.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $51,159
• Composite: 34.98/100
• National rank: #5056
• State rank: #132 of 301 in IN

Livability — Fountain City

• Score: 65/100
• State rank: #344
• US rank: #13177

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D+ Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fountain City, IN
• Population (ZIP): 2,513

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 63,316 people
• By 2030: 60,893 · -3.8%
• By 2040: 55,386 · -12.5%
• By 2050: 49,946 · -21.1%
• By 2075: 37,900 · -40.1%
• By 2100: 26,562 · -58.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Polish 2%
• Foreign-born: 1%
• Languages at home: 83% English-only · German/W. Germanic 16%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+32.5) · D 32.9% · R 65.4% · Other 1.6%
• 2008→2024 swing: -28.6pp toward R · 2008: -3.9pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+29.1 2016: R+30.1 2012: R+14.7 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.83%
• Current HPI: 199.9642
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+0.0% since first listed

2 events — show timeline

• 2026-06-08 Listed $64,900 RRELMS
• 2026-06-08 Listed $64,900 IRMLS

Property tax history

+6.9%/yr

Latest (2024): $579 · +41.7% YoY. Source: county tax records.